Push SMS services:
Push SMS are special formatted SMS messages that usually display an alert on your mobile phone. Push messages usually give the receiver an option of connecting directly to a webpage through the phones browser. Some of the other common names of Push messages include service message, browser message, wap alert and wap message and it is mostly used for advertisements.
Push SMS Vs Pull SMS:
SMS banking services are operated using both push and pull messages. Push messages are those that the bank chooses to send out to a customer’s mobile phone, without the customer initiating a request for the information. Typically push messages could be either Mobile marketing messages or messages alerting an event which happens in the customer’s bank account, such as a large withdrawal of funds from the ATM or a large payment using the customer’s credit card, etc. (see section below on Typical Push and Pull messages).
Another type of push message is One-time password (OTPs). OTPs are the latest tool used by financial and banking service providers in the fight against cyber fraud. Instead of relying on traditional memorized passwords, OTPs are requested by consumers each time they want to perform transactions using the online or mobile banking interface. When the request is received the password is sent to the consumer’s phone via SMS. The password is expired once it has been used or once its scheduled life-cycle has expired.
Pull messages are those that are initiated by the customer, using a mobile phone, for obtaining information or performing a transaction in the bank account. Examples of pull messages for information include an account balance enquiry, or requests for current information like currency exchange rates and deposit interest rates, as published and updated by the bank.
The bank’s customer is empowered with the capability to select the list of activities (or alerts) that he/she needs to be informed. This functionality to choose activities can be done either by integrating to the internet banking channel or through the bank’s customer service call centre.